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to give the state all of our resources which would be at least 3 billion euros to help the economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people can access their money in cyprus. >> absolutely. initially we know that banks were going to be closed up until tomorrow but at this point there's a lot of speculation that banks will be closed up until tuesday because monday is another bank holiday and at this point it's very, very uncertain that we'll get a viable plan b to get the bailout deal in place at this point it doesn't look like we'll get it by tomorrow. at this point we are expecting that banks are going to be closed for a little bit longer. of course that
schoolers? the right answer later in the grapevine. up next, the state of the u.s. economy. what are the chances of another recession here? for over 75 years people have saved money with...ohhh... ...with geico... ohhh...sorry! director's voice: here we go. from the top. and action for over 75 years people have saved money with gecko so.... director's voice: cut it! ...what...what did i say? gecko? i said gecko? aw... for over 75 year...(laughs. but still trying to keep it contained) director's voice: keep it together. i'm good. i'm good. for over 75...(uncontrollable laughter). what are you doing there? stop making me laugh. vo: geico. saving people money for over seventy-five years. gecko: don't look at me. don't look at me. by the armful? by the barrelful? e carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. >> bret: no major changes on the horizon in how the federal reserve is dealing with the economy. while fed chief bernanke says things are getting better not eve
country at the forefront of the global economy. israelis understand the value of education and have produced 10 nobel laureates. [applause] understand the power of invention and universities educate engineers. that spirit has led to economic growth and progress. ,olar power, electric cars synthetic limbs, stem cell research that treat disease. computer technologies that change the way people around the world live. if people want to see the world of the future economy, they , home ofok at tel aviv research centers and startups. [applause] are active on social media. every day seems to be a different facebook campaign on where i should give a speech. [laughter] [applause] that innovation is as important to the relationship between the united states and israel for security. our first free trade agreement in the world was reached with israel, nearly three decades ago. twoy the trade between our countries is at $40 billion every year. [applause] more importantly, that partnership has created new products and medical treatments and pushing new frontiers of science and exploration. that is
than three hours from the federal reserve notes and whether or not it continues stimulating the economy at the current levels, keeps propping things up. why don't you just pick up from where we left off because talking about washington related to the bigger picture scenario not assist early today but the role the federal reserve plays in all of this as long as interest rates stay as low as they are, what do you think? >> the fed plays a big role keeping interest rates low. i heard on the fiscal side, you're right, maybe outside of the beltway the washington fatigue, but returned to the fed, everyday to indicate the fed keeps the pedal to the metal, 85 billion per month, there'll be some talk about scaling it back later this year. the thing to watch is the fed forecast. all the members put in the economic forecast for the next three years. my guess is it'll be a little bit more promising for social and employment rate above 6.5% until 2015 and that is the threshold, they will not move interest rates up before your employment rate gets to that level, that is still at least two years from
blames israel. >> they want to control gaza, the people, the economy, they want to control everything. >> welcome to the great palestinian divide. ramallah is hardly boomtown but a galaxy apart from gaza. the market is busy. coffee shops are packed. and nine different arab banks compete for customers at this ramallah mall. stan helped build the mall. he says better than gaza isn't good enough. and, again, he blames israel. >> israel now has the leisure to be able to pick and choose how much restrictions it puts on the various palestinian areas, but that doesn't mean that ramallah is not under military occupation. we are very much in a cage. and around this cage is either israeli settlements or military checkpoints. >> he lives here but raised in youngstown, ohio. an american citizen who voted twice for president obama but believes visiting israel and ramallah now is a big mistake. >> coming and going without bringing any kind of political movement is em boldening israel and imboldening israel with this right wing government means more settlement means more collapse for the palestinian
to us that -- quote -- "the need to transform the world's energy economy while addressing global climate change is not only a religious and moral imperative, it is a strategy for security and survival. the united states conference of catholic bishops says that -- and i quote -- "at its core, global climate change is not about economic theory or political platforms, nor about partisan advantage or interest group pressures. it is about the future of god's creation and one human family." the bishops asked congress to consider seven principles in shaping responsible climate change policies. one, addressing global climate change means protecting the common good. two, climate change will hit the most vulnerable communities the hardest. three, we must seek solutions that enhance rather than diminish the economic standing of the poor. four, new resources must be made available to poor communities to adapt to the effects of a changing climate. five, we must protect vulnerable people from the negative human health effects of climate change. six, local affected communities should have a voi
. it is isolated its economy is in dire straits its leadership is divided. and its position in the region and the world has only grown eaker. i do believe that all of us have an interest in resolving this issue peacefully. trong and principled diplomacy is the best way to ensure that the iranian government foresakes nuclear weapons. peace is far more preferable to war and the inevitable cost the unintended consequences that would come with war means that we have to do everything we can to try to resolve this diplomatically. because of the cooperation between our governments we know that there remains time to pursue a diplomatic solution. that's what america will do with clear eyes working with a world that's united and with the sense of urgency that's required. but iran must know that time is not unlimited. and i've made the position the united states of america clear. iran must not get a nuclear weapon. this is not a danger that can be contained. and as president i said all options are on the table for achieving our objectives. america will do what we must to revent a nuclear-armed iran.
at the hp pavilion ahead of tomorrow's slate of games. >> the fans equal a win for san jose's economy. monte francis live in san jose where you spoke to downtown businesses with more on the economic impact. good morning, monte. >> marla, good morning. in 2010, this tournament generated about $20 million for san jose's economy. expectations this time around are just as high. as you said, college basketball fans from across the country flying into san jose for the tournament. hotels, bars, restaurants in downtown san jose are hoping to recover some of the money they lost with nhl lockout this past season. we're told right now many hotels in san jose are fully booked. when it comes to ncaa's impact on the local economy, there is a trickle down effect. the ceo of the san jose silicon valley chamber of commerce says when the hotels are booked, that translates to more revenue for restaurants, bars, and cafes. >> the expectations are always high. obviously the economic impact can vary. i think the numbers we heard from 2010 were about $20 million in economic impact. so whenever you can bring people
setback for chancellor angela merkel, just when she needed a victory with hard-hit eurozone economies contracting and german taxpayers nervous of the cost of bailouts. opposition parties are demanding the chancellor improve her track record. >> the fiscal cliffhanger in cyprus has turned into a major headache for angela merkel in her role as crisis manager. for many on the island, germany as part of the problem, but she points out that the troika is the negotiating partner for any bailout, not germany. >> politically, it is important that cyprus create a sustainable banking sector for the future. their current model is not sustainable. >> merkel also stressed that the eu had requested a levy on private accounts above 100,000 euros and not the 20,000 suggested by cyprus' government, but the german government says the cyprus debacle is covered in angela merkel's fingerprints and she must find a solution. >> the chancellor must make sure that the deal is struck which represents the interests of cyprus and stabilizes the european economic zone. >> but according to mrs. merkel, the ball is
's economy after a week on the brink of disaster. talks have significantly overrun, adding to fears that the deal is far from certain. we will go live to brussels in a moment. >> president nicos anastasiades left of cyprus behind for a chilly brussels. he is trying to broker a deal with eu finance ministers by monday to secure aid for his beleaguered country. his eu colleagues are demanding the cyprus raise the sum of 5.8 billion euros itself in order to release a rescue loan package. a compulsory levy on savings may be the only answer. but major investors in cyprus's biggest bank, the bank of cyprus, could lose up to 20% of their deposits. not surprisingly, it's an unpopular measure. >> nearly everyone's going to lose some money. of course, the amount will be greater for some than for others. and that's that. >> there is anger at the nation's creditors. >> the germans are only interested in themselves. they don't care about anyone else. >> cyprus's banks have been closed for a week. the european central bank has threatened to cut off the island's emergency funding should no deal be
stand? and israel's minister of the economy is here to answer our questions. >>> plus, mayor michael bloomberg called starbucks ceo ridiculi ridiculist. >>> and the head of colorado's department of corrections answers the door only to be shot down. we take you to the manhunt tonight. let's go "outfront." >>> good evening, everyone. i'm erin burnett. "outfront" tonight with friends like these, well, president obama arrived in israel to day. it was his first trip there as president. everything seemed rosey for a little while between him and benjamin netanyahu. >> and just as we have for these past 65 years, the united states is proudo stand with you as your strongest ally and your greatest friend. >> i want to thank you for the investment you have made in our relationship and in strengthening the friendship and alliance between our two countries. >> sounded so perfect. but then -- later in the day things changed. >> iran is a grave threat to israel, a grave threat to the world, a nuclear iran. the united states is committed to dealing with it. >> each country has to make its own decisi
own way. toyou can go to c-span.org check out "first ladies." spoke about the economy and monetary policy. you can see all of the news conference tonight a on c-span. , our policy has two main elements. first, we decided to continue purchasing mortgage-backed perrities at a pace of -- month. it bears to emphasize that the committee has described this program in terms of a monthly pace of purchases rather than a total amount of expected purchases. evolution of the program to economic criteria. within this framework, the committee can vary the pace of purchases. at this meeting, the committee judge -- second, the committee kept the target to the federal fund rate. it will remain appropriate for a considerable time after the purchase program ends and if the economic recovery strengthens. the low range for the fund rate will be appropriate as long as the unemployment rate remains above 6.5%. if economic conditions provided in the guidance are a threshold and not triggers, crossing one or more these marshaled will not automatically lead to an increase in rates. rather the committee will
. and stay the course. that's the message from the fed chairman ben bernanke today. he says our economy is improving but it still needs help. so the fed will keep interest rates at record low levels and will keep buying $85 billion in bonds each month. stocks like that, the dow up 56 points. briefly hitting a new record. the nasdaq up 25. the s&p up 10. of course, investors the world over are still watching the tiny island nation of cyprus as it nears possible bankruptcy. banks there are closed for the rest of the week now. and lawmakers are working on a plan b after parliament rejected a proposal to tax people's savings accounts. the fox business network peter barnes is live in the newsroom in washington. how concerned is the fed about cyprus? >> well, shep, he said the feted is paying attention to it, monitoring cyprus carefully. he said that so far its problems don't appear to be spreading to the u.s. or other countries. and that's the big concern here that this could become a contagion and trigger another financial crisis. but, bernanke suggested cyprus is unique, that its banking s
. above 14,500. traders reacting to the word the federal reserve will take more steps to boost the economy through the program of buying up $85 billion in treasury and mortgage bonds. but the trouble in cyprus could threaten markets. officials are trying to find a new way to keep their own economy afloat after the parliament rejected a bailout that would have taxed its own citizens' bank accounts. the banks are closed the rest of the week. >>> where are we with this situation? >> in a standstill when it comes to cyprus. the parliament is betting the european union and central bank will not cut them off for -- not going through with the plan to tax deposits. they have almost a week to negotiate. next tuesday is when the banks open up. in the back channels with russia on financial support, so it seems they're hoping they can find a stopgap. >> shepard: what i didn't understand was the real problem with this situation in spy russ is the russians, who have been laundering money, have stashed so much money in the banks, the banks are bigger than the economy in the country. so they could have ta
, israelis have put this country at the forefront of the global economy. israelis understand the value of education and have produced ten nobel laureates. israelis understand the power of invention, and your universities educate engineers and inventors. that spirit has led to economic growth and human progress. solar power and electric cars, bandages and prosthetic limbs that save lives, stem cell research and new drugs that treat disease, cell phones and computer technology that change the way people around the world live. so if people want to see the future of the world economy, they should look at tel aviv, home to hundreds of start-ups and research centers. israelis are so active on social media that every day seem to bring a different facebook campaign about where i should give this speech. that innovation is just as important to the relationship between the united states and israel as our security cooperation. our first free trade agreement in the world was reached with israel nearly three decades ago. today the trade between our two countries is at $40 billion every year. more i
shall face a total collapse of the banking system and of the whole economy. >> reporter: such talk may well be brinksmanship. it's not. these people and many more across europe would be forever changed by the events of the past three days. >> woodruff: for a closer look at the crisis in cyprus and why it's captured the attention of europe and the u.s., we turn to jacob kirkegaard, a senior fellow at the peterson institute for international economics. welcome to the program. >> my pleasure. woodruff: why does tiny cyprus, a population just over one million, have europe, the markets, the government so rattled? >> i think there's two main reasons. first of all that europe is still kind of on the edge. it doesn't take much to shatter the sort of recent lull of confidence that you have had in europe in the last couple of months. unfortunately, i think cyprus is one such thing. and the other element is that what happens in cyprus and with respect to the cyprusian banks have a large precedent-setting effect for how europe going forward is going to deal with banking crises in other european co
. >> sreenivasan: the federal reserve stood by its aggressive plan to stimulate the u.s. economy, keeping short-term interest rates at record lows. and it said there are signs the economy is getting stronger. one of those signs-- unemployment-- fell to a four- year low of 7.7% in february. still, the fed predicted it won't reach 6.5% until 2015. the fed and its chairman, ben bernanke, also had words of caution for congress. >> i do believe that long-term fiscal stability is extremely important and i urge congress and the administration, as i always do when i go to testify, to do whatever is necessary to put us on a sustainable fiscal path going forward. but in doing so, i think it's a good idea to pay attention to the impacts in the near term on what is still not a completely satisfactory recovery. >> sreenivasan: congress moved a step closer to advancing a spending bill that would keep the federal government running through september. the senate passed the legislation this afternoon along bipartisan lines. the measure funds the day-to-day operating budgets of every cabinet agency, gives $87 bi
of family relationships than by the parents' sexual orientation. >>> coming up, when will the economy be healthy enough to stand on its own? according to fed chief ben bernanke, not for a while. we'll tell you all about it, coming up next. [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of vegetables, a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8. glass on floors. daily chores. for the little mishaps you feel use neosporin to help you heal. it kills germs so you heal four days faster. neosporin. use with band-aid brand bandages. neosporin. i go to angie's list to gauge whether or not the projects will be done in a timely fashion and within budget. angie's list members can tell you which provider is the best in town. you'll find reviews on everything from home repair to healthcare. now that we're expecting, i like the fact that i can go onto angie's list and look for pediatricians. the service providers that i've found on angie's list actually have blown me away. join toda
-business lawmakers trying to rescind the letter fearing high-build investors who build the economy will flee to lower tax state. >> the game is rigged. yuf want win. we can change the rules on you after the fact. that is not fair. >> ironically for a tax break design to inven insent vise investment, it's reinforcing california antibusiness reputation. jerry brown issued a statement -- we are reviewing the situation to term how best to help the business owners given court's decision." >> ultimately, the legislature can try to fix it but the bill is still on the governor's desk. >> state he affected taxpayers can request a waiver to hope they lamer out a deal. if the reprieve does not come, the tax man will. >> bret: william la jeunesse in los angeles. thank you. >>> the house has begun general debate on the budget on capitol hill. that discussion will continue in to tomorrow. followed by debate on the proposals by republican paul ryan. alternatives. housing start meantime continue to rise. february's numbers where are behind only december's. as the best since 2008. building permit request reached 4-1/
and spending more is not a path to prosperity. it is not going to give us a healthy economy. billy zane stars in barabbas. coming in march to reelz. to find reelz in your area, go to reelz.com the chill of peppermint. the rich dark chocolate. york peppermint pattie get the sensation. >> if you believe in state's rights but still support the drug war you must be high. >> "viewpoint" digs deep into the issues of the day. >> do you think that there is any chance we'll see this president even say the words "carbon tax"? >> with an open mind... >> has the time finally come for real immigration reform? >> ...and a distinctly satirical point of view. >> but you mentioned "great leadership" so i want to talk about donald rumsfeld. >> (laughter). >> watch the show. >> only on current tv. >> the motion is adopted without objection, the motion to reconsider is laid upon the table. michael: the scene from the house floor where paul ryan's budget barely passed, two votes. it was 221-207 that sounds like 14 votes but it was two more than they actually needed. there was a small margin for this budget, a l
newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: today's supreme court arguments pitted a national law against a 2004 arizona voter registration bill. the case explores the extent of state powers against the controversial backdrop of voting restrictions. arizona's proposition 200 requires state residents to provide either a driver's license, passport, birth certificate or physical proof of citizenship before they can vote. but an existing federal law requires only a sworn statement of citizenship on a voter registration form. supporters say the arizona measure cuts down on voter fraud by keeping noncitizens from voting. but opponents argue the la
question. if we can't economy commitment and assurance which i've made publicly to the american people and to you privately that all options remain on the table, including the prospect which the president, charlie, does not want to do of unilaterally using military force to deal with iran's putative nuclear program. >> rose: so therefore the question is do you have any reason to doubt the president that he believes all other options have failed and iran is about to a year from now get a nuclear weapon and the ability to deliver it that he would not act? plunging markets notwithstanding the >> rising oil prices, a threat to american economic recovery, a generational war with iranians, all of that notwithstanding i believe that if it's unmistakably clear and this that the iranians are breaking out to acquire aweapon that this president will, in fact, use military force. it's not my preferreded option. it clouds the whole option of what the end state would be but i believe, yes he will use military force. >> rose: you agree? >> i think so, too. it's not just about the israelis as well. it
at the forefront of the global economy. israelis understand the value of education and have produced ten nobel laureates. israeli's understand the power of invention and your universities educate engineers and inventors. and that spirit has led to economic growth and human progress. solar power and electric cars and bandages and prosthetic limbs that save lives, stem cell research and new drugs that treat disease. cell phones and computer technology that change the way people around the world live. so if people want to see the future of the world economy, they should look at tel aviv, home to hundreds of start-ups and research centers. israelis are so active on social media that every day seemed to bring a different facebook campaign about where i should give this speech. that innovation is just as important to the relationship between the united states and israel as our security cooperation. our first free trade agreement in the world was reached with israel, nearly three decades ago. today, the trade between our two countries is at $40 billion every year. more personal, that partnership is c
to work sick costs the economy $180 billion each year in lost productivity. >>> and it's gross. >> in the guest spot, thanks so much for being with us. >> my pleasure. thank you. >> so some of the research that i've seen from cornell university actually shows that moms are penalized more than dads when they do take sick days to take care of their kids or they have to take off work to be able to take care of their kids, their family, a loved one. does having a standard baseline get it that problem and hopefully equalize the employer response to taking sick days? >> well, it helps women in several days. women are less likely to have it. more likely to need it since they do most of the care giving. but they also need men to share that care giving and more men will do so if they don't get punished for it at work. >> i wanted to pick up on something she was talking about, this might be good for the economy. some say they would rather make their own productivity decisions. i'm wondering what you think about the context of a decision and trying to build support for this kind of federa
for the survival of the cypriot economy. >> reporter: by the evening, however, news firmed up about the plan to split likely banks and its staff marched on parliament in the first really tense protests in this country's crisis. this evening, the queues at the cash machines grew even longer as they ran dry. parliament also is considering capital controls, stock money being taken out of this country. >> holman: late tonight, a new proposal was floated in parliament to create a fund using revenue from natural resources, bonds and other assets. but debate was delayed until friday. the u.n. agreed today to launch an investigation into the possible use of chemical weapons in syria. the syrian government and rebels have accused each other of using them in an attack in aleppo this week. u.n. secretary general ban ki- moon said the investigation will begin as soon as possible, but not overnight. >> the investigation mission is to look into the specific incident brought to my attention by the syrian government. in discharging its mandate of an investigation mission, full cooperation from all parties w
contributes to the local economy, $2.3 billion. so, the effect of the furloughs, as a result of sequestration, how do you expect that to play out? >> well, i can tell you that it's impacting my friends, my neighbors, it's impacting families throughout southern illinois. you're looking at people giving up 20% of their pay, and that's going to have a profound impact on the local economy. you know, those people who aren't getting a full week's pay for a full week's work won't be buying new cars. they certainly won't be buying new houses. and they won't be going down and getting that widescreen tv, or maybe going out to eat. >> right. >> and so, that's going to have a ripple effect throughout the economy. i'd like to point out, too, it's not just scott air force base. you know, we have federal prisons, and -- who are facing furloughs. that's a profound impact not only on the economy but also on the safety of those other prison employees. we have the shawnee national forest, the largest national forest in illinois, very significant impact. >> yeah. well -- >> we're losing three air control towers.
below 50%, basically even now with republicans on the economy, even though he had a big advantage after the election. >> look, when you're in the business of trying to form a compromise, get the other side to even come to the table with some commonsense ideas, i'm not surprised that the president is a little lower than 50%. but, you know, we have a budget now, we have a moral document, a blueprint for the policy debates that are going to take place this summer. one of the interesting things that i enjoyed watching was at 2:00 a.m., is that we got a chance to -- i don't get those other channels, george. but, they had an opportunity to talk about the keystone pipeline, they had an opportunity to talk about a biannual budget. this gave the senators more than an opportunity to talk about big issues as well as the budgetary. >> scored a lot of political points with all of those amendments. >> they did. and while this is a normal piece of legislative business, one does wonder why they did it at 5:00 in the morning? but it is a good thing they got it done. >> you're nodding your head? >> yes,
taxpayers. in 1990's president clinton worked with a republican congress to grow the economy and to restrain spending. in the 1990's, the balanced budget agreement actually resulted in a much faster balanced budget than anybody anticipated. balancing the budget was a major accomplishment for republicans in the 1990's, and also part of president clinton's legacy. i would hope that president obama would learn from that. the american people overwhelmingly support balancing our budgets. and the budget the senate democrats are considering never balances, ever. that means more debt, fewer jobs, and, frankly, much higher taxes from the american people. we certainly hope the president will change his mind and submit a plan that actually balances the budget. let's be clear, the democrats in this town who reject the goal of balancing the budget i think were out of step of where the american people are. the american people know you can't continue to spend money you don't have. i didn't come here for a fancy title or big office. i want to hand my kids and grandkids the same shot at the american dream th
see the economy take off mr. mr. norquist? >> guest: okay, we haven't had trillion dollars spending cuts that we had an agreement by the president of the united states forced on them by the republicans to reduce spending over the next decade by a trillion dollars, so 100 million a year. they haven't started yet and they're just beginning to kick in. this a quest or is an additional $1.2 trillion over the decades to what the republicans want in the state battle we had in 2011, the budget control act was obama needs the debt ceiling to be increased because we spent so much money and republican said okay, we will raise the debt ceiling so the country doesn't default but only if you agree to a dollar for dollar reduction in spending over the next decade. that $2.5 trillion in spending restraints, not real cuts, spending, less than obama had hoped but in washington that is called a cut. if you want 10 of something and you only got eight of something, you walked away with eight but so that was the $2.5 trillion spending reduction over the next decade. it hasn't happened yet. we have sever
there. the economies there were slow and germany the fifth biggest. great britain at number eight. france the 9th largest. all shrink shrinking in the last quarter. that is not what you want. entire eurozone by the way losing huge number of jobs. a record 19 million are unemployed. martha: deadly storm causing serious problems across the south. areas of alabama got pummeled with large hail. some of it was the size of baseballs. that is an unusual sight. that is what they had there. high winds causing issues in georgia. thousand people waking up without power there. national weather service say the storm destroyed a store and a dozen homes. look at the wreckage on the ground. one man was killed when the wind topple ad tree on to his car. bill: we had whiteout conditions here in new york city last night and a new round of snow making for a tough commute across the northeast. new england could see the worst of it. that region getting hit with several major storms over the winter. it could get up to 20 inches of snow by the time this storm passs? maria molina live in the fox severe we
into the economy, until they see things change substantially. and what they're talking about in terms of substantial change is the unemployment rate going down to 6.5%. the federal reserve, they have regular meetings, they give regular statements on what they're going to do. today was one of those regular meetings that was scheduled. we were not expecting a change in rates. obviously with rates as low as they are, the only option will to be raise rates and you don't typically raise rates, wolf, unless you're trying to slow an economy down. if you raise rates, it makes it harder, more expensive for people to borrow money. they spend less. they borrow less. we're not at that point right now. so rates are staying exactly where they were, the federal reserve will continue to print and pump $85 billion into the economy. the way they do that, wolf, is they buy bonds back from banks, treasuries and mortgage-backed securities that gives banks more money to lend to businesses, and individuals for their mortgages or for their business expansion, and that puts more money into the economy. they'r
the economy shows stronger signs of growth. for more on what this means for the u.s. economy, let's go to cnbc's karen cho. a rollerer coaster ride the las couple days. >> we're looking for a mixed start. we're expecting to see a bit of a dip out of the gates for the like of the s&p 500 and also the nasdaq. there were gains across the market yesterday. this is exactly what investors are looking to see. the same stimulus train thanks to ben bernanke. we heard that the qe program, $85 billion a month in mortgage and treasury purchase will remain for the foreseeable future. ben bernanke still keeping an eye out for potential negative effects from the policy. but so far he's promised the markets this will continue. in terms of the commentary around the dart, we did see adjustment lower on the growth forecasts. smament, ben bernanke is pointing to the fact that there has been some improvement in the likes of the housing market. the fiscal consolidation thanks to its playing out for the budget, this is going to have an impact in 2013 growth, 2.3% to 2.8% is the number we're looking at. this is down
with a republican congress to grow the economy and restrain spending. result7 agreement unnamed much faster balanced budget than anybody anticipated. balancing the budget was a major accomplishment for republicans and part of president clinton's legacy. i would hope that president obama would learn from that. the american people support balancing our budgets, and the budgets that democrats are considering never balances, ever. that means more debt, fewer jobs, and much higher taxes from the american people. we hope the president will change his mind and submit a plan that balances the budget. let's be clear, democrats in this town who reject the goal of balancing the budget are out of step. the american people know you cannot continue to spend money you do not have. i did not come here for a federal tight -- fancy title. i want to hand my kids and grandkids the same shot at the american dream that i had, not some mountain of debt. that is why republicans are working to balance the federal budget. been talk about the budget here. thatu think budgets -- they are essentially political weapons -- [indis
is in this country? it's in the banking system. it's a huge banking system, eight times the size of their economy. consider this, brian, if the us banking system was as big relative to the u.s. economy as cyprus is, we would have 45 more banks the size of jpmorgan in the united states. that's how big it is. that's why there's a need to tax deposits. that's where the money is. that's the only way this country will be able to come up with it. that's the struggle. now they're off to russia. minister of finances hope they get money out of that country. it's not clear that's going to happen, at least not in time to save the banking system. >>> of course here as always we want to know why are you awake? shoot us an e-mail or tweet me @billschactman. >>> they have espn and air force one will show you which teams the basketball fan picked. that's next in sports >> leave it to reality tv. we have more great diving. highlights from the new celebrity diving show "splash" which i did watch a few minutes of. check it out when way too early comes back. >> someone released poison gas inside the tokyo subway sys
-through with the israelis and a lot of interesting developments on the growing economy here, the technology sector. we will have jeff goldberg and host of "meet the press" in the united states, david gregory and "meet the press" from here, dana weiss. we have a pretty jam-packed show. >> wonderful. andrea mitchell, thanks very much. >>> the white house is work, on shifting over side of its lethal drone program from the cia to the military. according to the "the wall street journal." the move would make the controversial program subject to international law. strikes would be undertaken with the consent of host governments, while many in washington believe the program will be more effective under the cia, the proposal reflects a growing consensus it needs to be on legal, sturdier footing. yesterday the senate kicked off hearings. senators on both sides expressed concerns over privacy. some members are mulling possible federal regulations. the faa estimates 30,000 drones could be flying in the u.s. skies in the next 20 years and richard haass is shaking his head. it's impossible to consider. >> i think t
to shoot straight and say, it's not as if our government's going to collapse tomorrow or the economy is going to collapse tomorrow if we do nothing. but it's time to quit kicking the can down the road. you know, the folks on the other side of the aisle have talked about a balanced approach. but there's nothing balanced about a budget that doesn't balance. frankly the republican proposal is a relatively modest one. we grow government by 3.5% a year over the next ten years and balance the budget to, you know, put our kids and grand kids in a better position. >> obviously a big issue is going to be medicare. congressman cartwright, i want to get you to respond to something that senator corker says he wants president obama to do. here's what he said over the weekend. >> when the president uses his bully pulpit to explain to the american people that families are only paying one-third of the cost of medicare, we will know that we've begun the process of trying to solve this problem. i hope that happens as soon as he gets back from israel. >> congressman cartwright, i know there's a lot of
, in science and research, in education. things that are important to power the economy. our focus has been on jobs first. let's get the economy in full gear. not put the brakes on it. which is what the republicans do. they've gotten austerity budget that according to the nonpartisan congressional budget office, will result in 750,000 fewer jobs bn i end of the year. so we say let's tackle the deficit in a smart way, get people back to work and reduce it over a steady period over a period of time and our comes to balance at the same time that the republicans' budget from last year comes into balance. >> on the issue of revenue, i believe your budget has about $200 billion more in revenue than senator murray's budget in the senate. why did you put that in there considering that republicans are so adverse to any new revenue? >> the budget we have in our democratic proposal. if you take it even together with the revenue from the fiscal cliff agreement, is still less total revenue, luke, than was embedded in the bipartisan simpson-bowles agreement. so we have less revenue proposed by that bipar
provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: president obama called on young israelis to see the world through palestinian eyes and challenged israeli and palestinian leaders to abandon formulas and habits that have blocked peace. but even amid his visit, the old threats and realities of violence were present. margaret warner reports from jerusalem. >> warner: the second day of the president's trip to israel and the west bank was met with rocket fire from one place mr. obama won't go: hamas-controlled gaza two landed in sderot, israel in a clear breach of the ceasefire between the islamist hamas faction and israel struck late last year. there were no injuries. a l
disapprove of the way that he is handling the economy. the president is now making an effort to reach out to republicans by meeting with them several times over the past couple of weeks but you have is to wonder are his efforts sin? sincere. i asked lindsey graham earlier. the president spent more time on capitol hill meeting with republicans in the past week than he has for the previous four year is. senator, what is up? >> i don't know. old saying in the south it doesn't matter how you find religion as long as you do. i don't know if it is the dropping poll numbers or wants a leg icy and realizes you you can't have one without talking to republicans. either way it is a constructive thing. >> mike: i said you can't govern if you don't have relationships. >> right. >> mike: you can't have relationships if you don't look at each other face to face and spend time together. may not always be pleasant but it has got to be done. are you convinced and you were one of the senators that had dinner with him on the thursday night at the jefferson hotel. is he being a workhorse? or a showhorse? >> t
and the economy first and managing our debt wisely and responsibly. >>> what will you say in response to the rep criticism and clearly paul ryan's manifesto, when his budget shows the contrast, what do you say to their criticism that you don't resolve the spending cuts, that you don't deal with the debt adequately, just to play devil's advocate for a moment? >> sure. firstly, we do cut spending in our budget, but if you look at the ryan republican budget, it calls itself balanced, but it does it? just a horrendous ways to families across our country, who have been watching their kids go to school and struggle because of the cutbacks there, people who can't get a job today, people who want to have a strong country in the future, know that the investments we make in education and the infrastructure are devastated in the ryan budget, and he makes false promising that could be kept about reducing the tax rates. the only people that are protected in the ryan budget are the wealthiest and the largest corporations. they tell the rest of america, you are responsible for managing this debt that we have g
. let me turn to this second point. the war has affected the economy as well and left us with a legacy of higher oil prices and much higher national debt to. the iraq war costs set off a chain of events that had high reaching consequences. i was speaking about budgetary costs, but there are vast costs into civil society, here and in iraq, economic costs and financial costs, and some of those costs are borne by individual society or society at byge rather than directly the government. there were many of these costs i can talk about, but let me highlight a couple. if we think back to when we invaded iraq in 2003, oil prices to order $50 a barrel. and the markets including china and india predicted those would remain in that range for the next decade. oil prices are complicated, but most agree that iraq was one of the triggers of lead to oil prices shooting up shortly after the invasion. oil prices peaked do you since then we have rarely seen oil prices below the level of $100. if jo stieglitz were here, he would argue very strongly that we need to connect the dots, that oil prices contri
price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> shepard: hey, if you kick a helpless see you lose your beach privileges. the mayor of san diego ordering officials to close down a stretch of beach in la jolla after cameras caught people kicking and punching and sitting on top of seals and their brand new pupsz. workers installed the cameras in january to watch the seals give birth. instead cameras caught people harassing the animals. now the beach is off limits at night. that is not sitting well folks say that beach should be open to everybody. trace gallagher is in our west coast news hub. first, did they find the people who attacked the sealed seals? >> not yet, shep. the city attorney says if suspects are brought in they will be prosecuted and wildlife groups say they are appalled by the abuse beca
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